Indian equities rise as Nifty closes above 22,900, earnings season in focus
The Nifty 50 gained 1.05% to end the session at 22,937, while investors await September-quarter results and corporate developments across several sectors.
Indian equities extended their recovery on Thursday, with the Nifty 50 rising 238 points, or 1.05%, to finish at 22,937, comfortably above the 22,900 threshold. Technical analysis noted that the index closed above its 20-day simple moving average and crossed the 22,800 level, which could act as immediate support. Founder and CEO of HST Wealth Hariselvan Radhakrishnan said a sustained move above 22,900 may push the market toward the 23,000-23,150 range.
Stocks expected to draw attention include Reliance Industries, Jio Platforms, Trent, Suzlon Energy, IndiGo, Vedanta Power, Sagility and Rail Vikas Nigam, as investors monitor September-quarter earnings, fundraising plans, credit-rating updates, regulatory changes and new contracts.
Trent reported a 25.3% year-on-year rise in consolidated profit to Rs 468.09 crore for the September quarter of FY27. Motilal Oswal posted a 29% increase in operating profit after tax to Rs 718 crore, driven by its asset-management business. Suzlon Energy saw a 69% decline in net profit to Rs 394 crore, despite a 26% revenue increase from record wind-turbine deliveries, attributing the profit drop to a high base in the prior year.
IndiGo narrowed its consolidated loss to Rs 1,879 crore for the quarter, though the loss widened from the June quarter. Vedanta Power posted a turnaround, recording a profit after tax of Rs 83 crore after a loss of Rs 1,688 crore a year earlier, with revenue rising 38% to Rs 2,908 crore.
Sagility B.V. is reportedly planning a block-deal sale of a 12% stake in the IT-enabled services provider for up to Rs 2,377 crore, at a floor price of Rs 42.45 per share, representing a discount of up to 4.9% to the previous close. The promoter will be subject to a 365-day lock-up on its remaining holdings.
Godrej Consumer Products posted a 13.8% increase in profit after tax to Rs 522.92 crore, with revenue up 19% to Rs 4,413.09 crore. CRISIL reaffirmed AA+/Stable ratings on two Mankind Pharma non-convertible debentures while withdrawing ratings on a third debenture and a commercial paper. Rail Vikas Nigam received a letter of award from the Ministry of External Affairs to prepare a detailed project report for a professional and technical education centre in Seychelles.
A slate of companies, including Reliance Industries, Jio Platforms, Sun Pharmaceutical Industries, Bharat Electronics and others, are slated to release Q2 results later today, which could further influence market direction.